Bath & Body Works price target lowered to $45 from $54 at Baird

Baird analyst Mark Altschwager lowered the firm’s price target on Bath & Body Works to $45 from $54 and keeps an Outperform rating on the shares. The firm said they delivered modest EPS upside. Management flowed through the beat to the low end of F2024 guidance, but trimmed the top end of the outlook primarily on more measured H2 demand expectations after FQ2 sales miss.